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Ledger accounts that contain transactions related to individuals or other organizations with whom your business has direct transactions are known as personal accounts. Some examples of personal accounts are customers, vendors, salary accounts of employees, drawings and capital accounts of owners, etc. Capital account is a personal account because it records transactions between the owner of the business and the business itself. The owner invests money in the business, which is recorded in the capital account. Any withdrawals made by the owner from the business are also recorded in the capital account. The golden rule of accounting for personal accounts is: debit the receiver and credit the giver .
In May 2021, the government had raised the FDI limit in the insurance sector to 74% from _________ .
Where was the Iron Dome initially deployed and declared operational on March 27, 2011?
Which of the following is used for calculating dearness allowance to government employees for increase in prices in India?
What is the monetary penalty imposed by the Reserve Bank of India on Canara Bank for non-compliance with certain directions issued on 'Data Format for F...
Which is India's fastest train?
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In the list of 100 Most Powerful Women Forbes 2020 the finance minister Nirmala Sitharaman secured the position at?
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Which state has topped in highest number of Open defecation free (ODF Plus) villages till December 31, 2021?
From which of the following launch bases was India's telecommunication satellite named GSAT-30 launched?
